With the creation of Exane BNP Paribas, which will be BNP Paribas' exclusive representative for European equity brokerage, BNP Paribas has also decided to simplify the organization of its other equity activities.

Chantal Mazzacurati, currently Global Head of Equities, is now appointed Senior Executive Vice President reporting to Philippe Blavier, head of Corporate and Investment Banking. She will be responsible for specific missions relating to the development of corporate and investment banking activities.

Yann Gérardin, currently head of equity derivatives, is appointed global head of Equities.

These appointments will take effect as of June 1, 2004.

Chantal Mazzacurati, graduated from the Ecole des Hautes Etudes Commerciales (H.E.C.) in 1971 and from the Fletcher School of Law and Diplomacy, Tufts University, Medford, Massachussets. She joined BNP Paribas in 1973 in the research department then was in charge of relation with large Corporate at the Direction des Affaires Financières. She became Head of Equity Capital Markets in 1991, Head of Global Equities in B.N.P. in 1995 and following the merger Head of Global Equities of the BNP Paribas Group. Yann Gérardin, had a degree in economics (1983) and politics (1984). He is graduated from the Ecole des Hautes Etudes Commerciales (H.E.C.). He joined the BNP Paribas Group in 1987 and was more recently Global Head of Equities Derivatives.